Commission and Azerbaijan sign strategic gas deal. Azerbaijan commits to supplying substantial volumes of gas over the long term to the European Union, while Europe provides access to its market for them. This Joint Declaration is an important step in the realization of the Southern Gas Corridor and the diversification of Europe's energy supplies.

Hess Completes Acquisition of of 167,000 net acres in the Bakken oil shale play in North Dakota from TRZ Energy, LLC for $1,050 million in cash. The acquired properties are located near Hess' existing acreage and have current net production of approximately 4,400 boe/d.

BP Agrees to Sell its Interests in Pan American Energy to Bridas Corporation. PAE is an Argentina-based oil and gas company owned by BP (60 per cent) and Bridas Corporation (40 per cent). Bridas Corporation will pay BP a total of $7.06 billion in cash for BP’s 60 per cent interest in PAE. The transaction is expected to be completed in 2011.

Energy infrastructure: Commission proposes EU priority corridors for power grids and gas pipelines. An offshore grid in the Northern Seas and connection to Northern and Central Europe; Interconnections in South Western Europe; Connections in Central Eastern und South Eastern Europe; Integration of the Baltic Energy Market into the European market. Gas: Southern Corridor to deliver gas directly from the Caspian sea, Baltic Energy Market Integration; North-South corridor.

Shell reduces its interest in Woodside; underwriting agreement with UBS AG, for the sale of 78.34 million shares in Woodside, representing 29.18% of its interest in Woodside and 10.0% of the issued capital in Woodside at a price of A$42.23 per share. "we will increasingly focus our investment in Australia through direct interests in assets and joint ventures, rather than indirect stakes."

BP announced that it has reached agreement to sell its recently-acquired interests in four mature producing deepwater oil and gas fields in the US Gulf of Mexico to Marubeni Oil and Gas for $650 million. BP acquired the interests in the fields - Magnolia, Merganser, Nansen and Zia - from Devon Energy earlier in 2010 as part of a wider acquisition of assets in the Gulf of Mexico, Brazil and Azerbaijan.

Shell launches phase II of the prolific Parque das Conchas (BC-10) project more than 100 kilometres (62 miles) off the coast of Brazil. This significant investment develops the fourth field in the BC-10 block and continues a successful wave of production growth in Shell’s Upstream Americas business. The full project delivers an energy resource of approximately 300 million barrels of oil equivalent, with facilities production capacity of some 100,000 barrels of oil equivalent per day.